Indonesia Stock Exchange (IDX) has entered into an agreement with Denodo to tap on its platform as a component of their data management architecture with the aim of speeding up the distribution of market data to customers.
Specifically, Denodo’s data fabric solution will be used to manage IDX’s significant volumes of transactional data in a single place.
“We are very proud to be working with IDX, to help them establish secure access to market data for their clients,” said Ravi Shankar, senior vice president and chief marketing officer at Denodo. “The advanced data integration and management capabilities of the Denodo Platform provide significant benefits to organisations like IDX, that use it for accelerating data access and improving speed-to-market."
The organisation previously had its data reside in distributed, stand-alone systems with different data structures and a broad network of both internal and external data sources that need to be connected, combined and consumed.
Laksono W.Widodo, director of Trading and Membership at IDX, highlighted the Denodo deal would enable ease of receiving market data and delivery of real-time data to its members and subscribers.
“Leveraging a logical approach to data management and integration is key to meeting this objective and improving our data services offerings,” added Widodo.